Utilities California Layoffs

PG&E Corp., the largest U.S. utility by sales, said it will have to fire 3,500 employees, or 14% of its work force, if California regulators slash its $822-million rate increase request by a proposed 70%. State Administrative Law Judge Mark Wetzell last month recommended that San Francisco-based PG&E be granted only $243 million of its requested increase. It would be retroactive to the start of this year and last for at least two more years.

PG&E Corp., the largest U.S. utility by sales, said it will have to fire 3,500 employees, or 14% of its work force, if California regulators slash its $822-million rate increase request by a proposed 70%. State Administrative Law Judge Mark Wetzell last month recommended that San Francisco-based PG&E be granted only $243 million of its requested increase. It would be retroactive to the start of this year and last for at least two more years.